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2023 U.S. Industry Statistics & Market Forecast - Institutional Furniture Manufacturing


Market Size & Industry Statistics

The total U.S. industry market size for Institutional Furniture Manufacturing: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Institutional Furniture Manufacturing market size 2023
Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics 2017        2018        2019        2020        2021        2022
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2023 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The institutional furniture manufacturing industry has been continuously evolving, and the key trends in this industry are essential to understand for staying competitive and successful.

One of the significant trends affecting the institutional furniture manufacturing industry is the use of eco-friendly and sustainable materials. Many customers and companies are now looking for furniture that utilizes non-toxic materials and sustainable design. Furthermore, the trend of customization and personalization has been gaining significant momentum, with many consumers seeking designs that reflect their individual tastes and preferences. To address this trend, furniture manufacturers are starting to offer a wider range of modular and customizable options.

In addition, technology is becoming increasingly essential in the institutional furniture manufacturing industry. The use of computer-aided design (CAD) and robotics in manufacturing has revolutionized the industry, making manufacturing processes more efficient and cost-effective. Additionally, the trend towards the Internet of Things (IoT) is impacting the industry, with many furniture manufacturers integrating sensors and technology into their products.

Finally, changing workplace demographics have led to the rise of activity-based working and flexible workspaces. Furniture manufacturers are designing products that cater to the needs of a diverse workforce that values collaboration, flexibility, and comfort. The institutional furniture manufacturing industry is proving itself to be adaptive, innovative, and forward-thinking in keeping up with these trends. Companies that can understand these trends and incorporate them into their products will be best positioned for success.



Product & Services Breakdown

Research products and services in the Institutional Furniture Manufacturing industry generating sales. Note that products are broken into categories with different levels of classification.

Product Description Sales ($ millions) Percent of Total Sales

Industry Total

Institutional Furniture Manufacturing

School Furniture (Excluding Library), Excluding Stone And Concrete

Public Building And Related Furniture (Excluding Bar, Bowling Center, Cafeteria, Restaurant, And School)

Public Bar, Bowling Center, Cafeteria, And Restaurant Furniture

Institutional Furniture, Other Types

Institutional Furniture Manufacturing, Not Categorized, Total

Total Miscellaneous Receipts

Resales - Sales Of Products Bought And Sold Without Further Manufacture, Processing, Or Assembly



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Institutional Furniture Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Institutional Furniture Manufacturing industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Institutional Furniture Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 5%

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Chief Executives0%
General and Operations Managers2%
Office and Administrative Support Occupations 9%
Production Occupations 61%
Assemblers and Fabricators 13%
Miscellaneous Assemblers and Fabricators 12%
Textile, Apparel, and Furnishings Workers 7%
Woodworkers 26%
Cabinetmakers and Bench Carpenters 18%
Cabinetmakers and Bench Carpenters 18%
Other Production Occupations 8%
Transportation and Material Moving Occupations 8%
Material Moving Workers 6%
Source: Bureau of Labor Statistics


Institutional Furniture Manufacturing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Institutional Furniture Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Institutional Furniture Manufacturing industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Institutional Furniture Manufacturing industry.
Source:
IncFact


Government Contracts

In 2022, the federal government spent a total of $184,876,462 on Institutional Furniture Manufacturing. It has awarded 830 contracts to 157 companies, with an average value of $1,177,557 per company.   

Most Recent Contracts Date Total Award Amount